Gold falls as U.S. dollar strengthens

CHICAGO, April 17 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Monday as the U.S. dollar strengthened.

The most active gold contract for June delivery fell 8.80 U.S. dollars, or 0.44 percent, to close at 2,007.00 dollars per ounce.

In an audience discussion at the Richmond Association for Business Economics on Monday, Richmond Fed President Tom Barkin said that he wants to see more evidence that U.S. inflation is settling back to the Federal Reserve's 2 percent target, and that he's reassured by stability in the banking sector.

Economic data released Monday are mixed. The New York Fed's Empire State business conditions index, a gauge of manufacturing activity in the state, jumped 35.4 points to 10.8 in April. Economists had expected a reading of negative 15.

The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) rose one point to 45 in April. Homebuilders remained cautiously optimistic that the lack of existing inventory would drive demand for new homes, despite elevated interest rates and construction costs.

Silver for May delivery fell 37.20 cents, or 1.46 percent, to close at 25.088 dollars per ounce. Platinum for July delivery rose 5.60 dollars, or 0.53 percent, to close at 1,059.60 dollars per ounce.